Medicare Supplements

Why Medicare Supplements?

• Medicare Supplements provide predictable healthcare spending outcomes.  They have low out of pocket exposure outside of your premium.  
• You can choose any doctor or hospital that accepts Medicare. 100% of hospitals and approximately 95% of physicians nationwide.  
• No referrals necessary, simplifying seeing a specialist of your choice.  Especially in highly skilled fields.
• No Prior Authorizations.
• If travelling, you don't have to worry. You can use your plan anywhere without having to make sure you're in the network. 
• Standardized plans across the country.  It's the same plan no matter what company you choose or where you live.
• You may change plans anytime.  

When can I change my Medicare Supplement plan?

You can shop Medicare Supplement plans anytime. However, outside the initial 6-month Medicare supplement open enrollment window (Part B effective date), you will be asked medical questions and may not qualify (see top Medicare supplement decline video below). Unfortunately, some people could be with one plan for life depending on health. Therefore, it's important to pick the right plan and not the cheapest.

Why Change Medicare Supplement Plans?

You will see increases in premiums as you age.  I have saved people a lot of money by swithching plans after a few years due to choosing a carrier that had large rate increases.  Who should get a quote or consider switching?

Here are a few reasons why:

1. You've been with the same carrier for or more years with significant increases.  
2. You have Plan F that is only available to those that aged into Medicare before 1/1/2020.  Plan G makes more sense 99% of the time. 
3. You have a Medicare Advantage plan.  The time to apply for a plan is 10/1-11/15 ideally, 12/7 at the latest (Annual Election Period) or during Open Enrollment 1/1 - 3/3 (DO NOT DROP A MEDICARE ADVANTAGE PLAN UNTIL YOUR MEDICARE SUPPLEMENT IS APPROVED).
4. You have no idea what plan you have or who helped you get it. 
5. You want an agent and not a call center helping you. 

Annual Election Period (10/15-12/7)

Medicare supplements do not have an annual election period like Medicare Advantage and Prescription Drug plans. If you're happy with your plan and premium, you don't need to do anything. However, if you want to drop your Medigap plan and enroll in a Medicare Advantage plan, this is your window.  Just remember, you may never be eligible for another Medigap plan again.

If you have a Medigap plan, you likely have a stand-alone prescription drug plan. You can change prescription plans this time of the year.  It's always a good idea to shop plans, especially if any prescriptions have changed.